Official April Thread: General Discussion/etc

[Bukem_]

Lol.

[DLizzle]

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saying (in the ftp chat one day) you were 5ptbb/100 winner at 5/10 over hundreds of thousands of hands ?

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please stop doing this everyone

[aejones]

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Lol.

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LLLLLLLLLLLLLLLLLLLLLLL

OOOOOOOOOOOOooooooooOOOOOOOO

LLLLLLLLLLLLLLLLLLLLLLLLLLL

[good2cu]

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2-4 and 3-6 no limit is a joke. So passive compared to 5/10. I think im going to move down just so i never have to lose.

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wtf i recall you saying (in the ftp chat one day) you were 5ptbb/100 winner at 5/10 over hundreds of thousands of hands ?

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yea i still lose as a 5BB/100 winner tho.

[G_Dollaz]

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Hey are those winrates for real? Are people struggling that badly? At 2/4? WTf?

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The games are [censored] tough this year.... I ran over 5ptbb/100 @ the 3/6 over a signifigant sample size @ party, and I've gotten much better since then....anybody know what the midstakes winrates look like on stars?

Also, I was contemplating moving to 1/2 for a while b/c I think that I may be able to run at more than double the winrate b/c it seems as if table selection is MUCH better, anybody have thoughts on that?

[G_Dollaz]

good2cu, how many tables do you play beating the 5/10 for that winrate? that's [censored] sick.

[Bukem_]

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Also, I was contemplating moving to 1/2 for a while b/c I think that I may be able to run at more than double the winrate b/c it seems as if table selection is MUCH better, anybody have thoughts on that?

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I tried playing 1/2 for a bit to experiment with some new things and see how the games are. Its extremely hard to play disciplined at that level. People make so many mistakes, and telegraph their hands so you constantly want to move them off their hands, only it rarely works.

[Reef]

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you bring up a good point: it is my belief that everyone is playing over their roll right now. i mean esriously, how can anyone be properly rolled for 5/10 after taxes?

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i put aside money for taxes (always a rough estimate of what i'll owe in addition to my previous quarterly payments) and don't count it as my bankroll, and i also only play stakes i'm overrolled for. is that a good enough answer?

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Is "quarterly payments" the recommended play when it comes to paying taxes from poker? also, are there any forums specific to taxes?

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Q: Most of us know that self-employed individuals have to make quarterly tax payments to the government. Is there any way to avoid that?
smp: If you have paid at least 90% of your total tax liability by the end of the year you don’t have to make quarterly tax payments.
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Q: If you are not making quarterly payments how do you get to that 90% level?
smp: Well, if your spouse works, he or she can have taxes withheld at the higher single level, claim zero exemptions, and even direct that additional amounts be withheld from each paycheck. Just make the appropriate changes on their W-4. Or if you do work for an employer in addition to your self-employed work you can do the same things with your W-4 with that company. I know a writer who also delivers newspapers. He has his newspaper employer withhold enough to cover his writing income too.
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Q: If, at the end of the tax year, you find that your tax withheld does not exceed 90% of your tax liability can you just send the IRS a check on say December 30th to get it to the 90% level?
smp: If you do, the IRS will see that as a fourth quarter quarterly payment for the current year. Once you start making quarterly payments you will need to continue filing quarterly payments for as long as you are earning self-employment income.

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[FoxwoodsFiend]

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you bring up a good point: it is my belief that everyone is playing over their roll right now. i mean esriously, how can anyone be properly rolled for 5/10 after taxes?

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i put aside money for taxes (always a rough estimate of what i'll owe in addition to my previous quarterly payments) and don't count it as my bankroll, and i also only play stakes i'm overrolled for. is that a good enough answer?

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Is "quarterly payments" the recommended play when it comes to paying taxes from poker? also, are there any forums specific to taxes?

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I can't understand how many poker players don't have accountants: if you're not paying quarterly estimated payments as a professional gambler you are going to get hit with fines (pretty massive ones that are big enough that you should go to an accountant and talk to him) if this is your 2nd year as a professional gambler. I'm pretty positive about that last part (2nd year), but I'm absolutely sure about the fines: I paid about $900 in fines just for underpaying in my estimated payments last year.

[aejones]

let the poker revolution begin